The US Securities and Exchange Commission (SEC) has closed its investigation into whether Ethereum (ETH) should be classified as a security.

Ethereum developer Consensys made the announcement on June 19 By sharing X That the SEC’s Enforcement Division has notified them of the conclusion of the investigation into Ethereum 2.0. The post reads:

Today, we’re pleased to announce a big win for Ethereum developers, technology providers, and industry participants: the SEC’s Enforcement Division has informed us that it will be closing its investigation into Ethereum 2.0.

This means that the SEC will not bring charges alleging that ETH sales are securities transactions.

sigh of relief

Consensys had previously sent a letter to the SEC on June 7, requesting clarification on the status of the investigation, citing Agency approval From the spot Exchange Traded Funds (ETFs) in May. Such approval allegedly implies that ETH is considered a commodity.

Laura Brookover, Senior Consultant at Consensys, Share SEC response letterStressing that the agency did not intend to recommend executive action. The SEC has not yet made an official comment on the matter.

In March, reports emerged that the S.E.C It issued subpoenas to a number of companies Trying to label ETH as a security. Still, Consensys lawsuit against the Securities and Exchange Commission Its notice indicating that the MetaMask cryptocurrency wallet may have violated securities laws is still ongoing.

The lawsuit alleged that the SEC and its chairman, Gary Gensler, believed Ethereum was a security. Since early 2023along with SEC Enforcement Division Director Gurbir Grewal, approved a formal order conducting an investigation on March 28, 2023.

The resolution of the SEC’s investigation into Ethereum’s security posture is expected to provide clarity and relief to the Ethereum community and the broader community. Cryptocurrency industry.

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